National Pension Service Purchases 48,206 Shares of Deere & Company (NYSE:DE)

Key Points

• The National Pension Service has increased its stake in Deere & Company by 8.6%, owning approximately $285.63 million worth of shares after acquiring an additional 48,206 shares in Q1.
• Deere & Company reported $6.64 earnings per share in its latest quarterly earnings, exceeding expectations, despite a 17.9% decrease in year-over-year revenue.
• Recent target price upgrades from analysts have increased, with Truist Financial raising their target to $619.00, reflecting a positive outlook for the company.

National Pension Service increased its position in shares of Deere & Company (NYSE:DE - Free Report) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 608,564 shares of the industrial products company's stock after purchasing an additional 48,206 shares during the quarter. National Pension Service owned 0.22% of Deere & Company worth $285,630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DE. Hughes Financial Services LLC bought a new position in shares of Deere & Company in the first quarter worth about $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after acquiring an additional 36 shares during the last quarter. Orion Capital Management LLC bought a new position in shares of Deere & Company in the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. bought a new position in shares of Deere & Company in the fourth quarter worth about $39,000. Finally, Dogwood Wealth Management LLC bought a new position in shares of Deere & Company in the fourth quarter worth about $42,000. Institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. Bank of America increased their target price on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Truist Financial lowered their price objective on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research note on Friday. Oppenheimer upped their price objective on Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a research note on Friday. BMO Capital Markets reaffirmed a "market perform" rating and issued a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Finally, Raymond James Financial upped their price objective on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of "Hold" and an average price target of $521.47.

Deere & Company Trading Up 2.1%

Shares of DE stock traded up $9.84 during trading hours on Friday, hitting $488.68. 2,673,758 shares of the company were exchanged, compared to its average volume of 1,318,860. The firm has a market cap of $132.35 billion, a P/E ratio of 25.55, a P/E/G ratio of 3.04 and a beta of 1.06. Deere & Company has a fifty-two week low of $371.16 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.19. The company has a 50 day simple moving average of $511.18 and a two-hundred day simple moving average of $489.89.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company's quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.29 EPS. Equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company's dividend payout ratio (DPR) is 31.35%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.